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Metrology Systems Global Market Report 2023: Technological Advancements and a Greater Demand for Precision Boosts Growth

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Dublin, May 10, 2023 (GLOBE NEWSWIRE) — The “Metrology Systems Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2023 To 2031” report has been added to ResearchAndMarkets.com’s offering.

The global market for metrology systems is anticipated to grow at a CAGR of 11.5% during the forecast period of 2023 to 2031.

Due to technological advancements and a greater demand for precision, metrology systems are projected to experience substantial growth. To perform metrology functions more efficiently and effectively, automated processes and systems are being developed, and automation is expected to become more prevalent in metrology systems. With the addition of AI-driven algorithms, it is anticipated that metrology systems will become more precise and reliable.

In recent years, there has been a significant shift in the field of metrology systems toward automation. The use of robots and artificial intelligence (AI) to replace manual labor. In addition, portable metrology systems for on-site and remote measurement applications have been developed. Using the latest innovations in image processing and optical metrology, precision and speed are being enhanced.

The cloud is becoming an increasingly popular method for data analysis, which will make it faster and more precise in the future. FINAS, Zygo, Aqua Metrology Systems, Faro Technologies, Nikon Metrology, Carl Zeiss AG, Jenoptik, and Panasonic Corporation are the leading companies in the global metrology systems market. These competitors are concentrating on introducing innovative products and services to expand their customer base and strengthen their market position.

Autonomous robotic metrology systems will be increasingly relied upon by industrial applications for faster and more precise measurements. The range of applications for 3D laser scanning and imaging technology is likely to expand. The application of automated vision systems will facilitate quality control and inspection. Increasingly, big data analytics and artificial intelligence will be required to analyze and interpret the vast amounts of data produced by metrology systems (AI).

In addition, technological advancements will improve data analysis algorithms and increase the versatility and sophistication of software packages. Additionally, the popularity of wireless and cloud-based metrology systems will increase in the future. In addition to allowing other users and metrology operators to benefit from remote monitoring and data sharing, this will enhance collaboration between users and metrology operators.

Manufacturers in North America are placing a greater emphasis on quality improvement and cost reduction, which is increasing the value of metrology systems. The Asia-Pacific region is anticipated to provide lucrative opportunities for market leaders. The growth of information and technology in nations like India, China, and South Korea is anticipated to significantly expand the market.

Using metrology systems, manufacturers can determine areas for improvement in addition to gaining a deeper understanding of their processes. Manufacturers can also use metrology systems to remain competitive on the global market in the face of fluctuating customer demands.

Technical Barriers to Trade (TBT) Agreements, which are administered by the World Trade Organization (WTO), permit countries to harmonize national requirements by referencing international documentary standards (norms) in their national technical regulations. A system of mutual recognition and assessment of conformity will also be considered, and signatory states are expected to participate in the process as part of the agreement.

Industry 4.0 will further acknowledge businesses whose value creation is closely tied to manufacturing and information technology. Scientists are increasingly focusing on developing scientific and applied metrology to determine how nanomaterials can be applied to address societal needs. During the forecast period, the metrology systems market is anticipated to be driven by an increase in the use of these systems for aerospace, defense, and automotive applications.

Through the use of in-line metrology systems, automation, precision, and dependability of measurements are increasing in prevalence. In contrast to existing metrology systems, the next-generation systems are more intuitive, highly perceptive, and adaptable, allowing companies to automate their production processes in the future; this will contribute to the widespread adoption of these systems across numerous industries.

The manufacturing, process, and instrumentation industries rely heavily on metrology, the science of measurement. Due to the increasing demand for reducing errors during the manufacturing process and expanding the product life cycle, the demand for metrology systems is high in the manufacturing industry. In QC labs, engineering labs, and research departments, metrology systems are highly perceptive, customizable, and user-friendly to satisfy all instrumentation and measurement requirements. This enables businesses to achieve total automation and increase production. Measuring the sight dimensions of various difficult-to-measure objects, the metrology system employs cutting-edge technology that saves time and money on product development. The application of the metrology system has seen an increase in the adoption of precision engineering methods by manufacturers with a focus on reliability and precision in product manufacturing.

The advantages of metrology systems in terms of precision, cost reduction, and measurement accuracy have led to a rise in the adoption of metrology systems in various industries. Increased demand for 3D metrology systems is a result of the development of metrology systems. The 3D metrology system is primarily used for quality control to ensure production accuracy. This system consists of industrial 3D scanning technology, an optical 3D coordinate measuring machine, a 3D motion sensor, and a 3D measuring machine. In the aerospace, energy and power, automotive, and construction industries, the 3D metrology system is gaining rapid traction. Utilization of the 3D metrology system is increasing as the demand for quality output in industrial applications grows.

Coordinate measuring machines (CMM) enable manufacturing processes to be automated, thereby increasing production efficiency and product quality. These CMM devices consist of an optical CMM, a handheld scanner, an articulated arm, laser scanning devices, and other devices that enhance operational efficiency. In the manufacturing and assembly process, the CMM metrology system is used to assemble and test components against the predetermined design. Adoption of the CMM metrology system in the automated manufacturing industry reduces total operational costs, improves quality, and maintains a continuous production flow, thereby increasing demand for the metrology system. For example, in January 2020, LK Metrology introduced a new CMM measurement services section for performing contract dimensional inspection using the most recent metrology software.

During the forecast period of 2023 to 2031, North America is anticipated to hold a dominant share of the global market. The presence of market leaders is a key factor propelling the metrology systems market in the region. Asia-Pacific is anticipated to create significant opportunities for market leaders. Due to the expansion of the information & technology industry in countries such as Japan, China, South Korea, India, and the Philippines, the metrology systems market in the region is anticipated to grow substantially.

Market Segmentation
Component

  • Hardware
  • Software
  • Services

Industry

  • Aerospace &defense
  • Automotive
  • Power and energy
  • Pharmaceuticals
  • Others

Type

  • 3D tomography machines
  • 3D scanning technology
  • Coordinate measurement machines (CMM)
  • Vision measurement systems

Key questions answered in this report

  • What are the key micro and macro environmental factors that are impacting the growth of Metrology Systems market?
  • What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
  • Estimated forecast and market projections up to 2031.
  • Which segment accounts for the fastest CAGR during the forecast period?
  • Which market segment holds a larger market share and why?
  • Are low and middle-income economies investing in the Metrology Systems market?
  • Which is the largest regional market for Metrology Systems market?
  • What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
  • Which are the key trends driving Metrology Systems market growth?
  • Who are the key competitors and what are their key strategies to enhance their market presence in the Metrology Systems market worldwide?

Key Topics Covered:

1. Preface

2. Executive Summary

3. Metrology Systems Market: Competitive Analysis

4. Metrology Systems Market: Macro Analysis & Market Dynamics

5. Metrology Systems Market: By Component, 2021-2031, USD (Million)

6. Metrology Systems Market: By Industry, 2021-2031, USD (Million)

7. Metrology Systems Market: By Type, 2021-2031, USD (Million)

8. North America Metrology Systems Market, 2021-2031, USD (Million)

9. UK and European Union Metrology Systems Market, 2021-2031, USD (Million)

10. Asia Pacific Metrology Systems Market, 2021-2031, USD (Million)

11. Latin America Metrology Systems Market, 2021-2031, USD (Million)

12. Middle East and Africa Metrology Systems Market, 2021-2031, USD (Million)

13. Company Profile

Companies Mentioned

  • FINAS
  • Zygo
  • Aqua Metrology Systems
  • Faro Technologies
  • Nikon Metrology
  • Carl Zeiss AG
  • Jenoptik
  • Panasonic Corporation

For more information about this report visit https://www.researchandmarkets.com/r/8ezg9z

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.


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Cyber insurtech BOXX partners with Zurich Insurance Group in Switzerland to introduce breakthrough personal cyber product

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TORONTO, May 21, 2024 /PRNewswire/ — Award-winning global Insurtech BOXX Insurance Inc. that combines cyber insurance and security has announced the launch of a cutting-edge cyber risk solution in collaboration with Zurich Insurance Group in Switzerland, providing digital protection for individuals and families. 

Recognizing the critical need for comprehensive protection against digital threats Zurich Insurance in Switzerland has partnered with technology partner BOXX Insurance to develop a user-friendly solution designed to help individuals and families better predict and prevent potential scams and digital threats.
Designed for simplicity, the app’s personalized experience puts users’ digital safety front and centre, featuring an easy-to-use interface designed by Zurich Insurance in Switzerland and developed by BOXX in close collaboration with Zurich. The App is now available in Switzerland offering support in English, German, French and Italian.
“We created this to give individuals and families what they want – an app that delivers an essential bundle of tools at users fingertips including access to experts in the event of a cyber emergency,” explained Vishal Kundi, CEO and Founder, BOXX Insurance. “Smartphones have become the fastest-selling gadgets in history. They have penetrated every aspect of daily life. The average person picks their phone up to 100 times a day so if we want to make their world a digitally safer place, we have to ensure their phone and their usage is better secured,” Kundi added.
“An extensive research conducted by Zurich Insurance in Switzerland showed that many are not aware of online dangers and that around a quarter have already been victims of a cyber-attack. In addition, customers are simply overwhelmed with the range of cyber products,” says René Harlacher, Chief Underwriting Officer of Zurich Insurance in Switzerland. “At Zurich, it’s our mission to go beyond mere protection, and also offer our customers tools to help them build resilience and implement preventative measures against cyber risks. Based on these facts, we are expanding our cyber offering for private individuals so that we can provide them with support before, during and after a possible cyber-attack. This is exactly where our joint offering with BOXX Insurance comes in, as a way to lend additional support to our customers,” he adds.
The newly launched solution by Zurich Insurance in Switzerland focuses on providing essential services to help prevent digital threats combined with emergency assistance and support in case of an emergency. Delivered to end customers by Zurich, key features include:
Identity Protection: Identifies if personal data captured in the app shows up on the dark web and notifies users, providing help and advice to reduce threats of identity theft.Secure VPN: By creating a secure and encrypted internet connection the VPN protects data from potential threats such as hacking, identity theft, and phishing attacks. Secure WiFi: Scans WiFi networks for threats and helps proactively detect security issues.Safe Browsing: Warns against harmful websites and links to protect privacy and personal data.Device Protection: Checks and improves the security settings of devices. Devices with the Android operating system are additionally protected against viruses and malware.Password Manager: Creates and manages strong passwords and assists with their use.Edutainment: Educational content in an entertaining way to raise awareness of personal cyber security.Emergency Support and Assistance: Help and assistance from cyber security experts to provide support in cyber emergencies and for many other IT-related problems.   The new offering is available here: https://www.zurich.ch/en/private-customers/living-events/cyberprotection/insurance-prevention
“From providing protection from the dangers of being connected at home and on the go, customers now have the means to keep their devices and data secure and have access to indispensable help in an emergency, all in one easy-to-use app,” Kundi added.
Zurich has been working with BOXX since 2021 and participated in BOXX’s Series A and Series B funding rounds. As a Zurich Global Ventures portfolio company, BOXX is proud to now extend the ongoing collaboration with Zurich to enable Swiss customers to be digitally safer.
About BOXX Insurance 
BOXX Insurance Inc. helps businesses, individuals and families insure and defend against cyber threats. Privately-held with headquarters in Canada, BOXX has global offices in Toronto, Miami, Zurich, Dubai and Mumbai.
BOXX Insurance is an award-winning global cyber protection and insurance provider. We’re not a typical company. That’s by design. We’re serious about making the world a digitally safer place; creating real, positive changes for our clients and partners, and building a lasting legacy, from what we create, inside the BOXX.
Every day we’re improving the digital health of businesses, families and individuals around the world who rely on BOXX’s solutions and services to predict, prevent and insure them against cyber threats.
Media Contact: Sarah Madden, [email protected] 

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Amp Finalises Commercial Agreements for Cape Hardy Advanced Fuels Precinct

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ADELAIDE, Australia, May 21, 2024 /PRNewswire/ — Amp Energy (“Amp” or the “Company”) announced today it has finalised all required commercial agreements for the development of the Cape Hardy Advanced Fuels Precinct – one of the leading green hydrogen, green ammonia and advanced fuel projects in Australia. The agreements, which were executed with Iron Road Ltd, include the purchase of a 630-hectare parcel of land at Cape Hardy as well as finalised royalty structure and common user infrastructure agreement. Amp will continue to build upon development progress made since announcing the Strategic Framework Agreement with Iron Road Ltd in April 2023 to bring advanced fuel production capacity to Cape Hardy.

The Cape Hardy Advanced Fuels Precinct will provide production at scale with up to 10 GW of planned electrolyser capacity. Development will be structured to initially bring 1 GW online with incremental stages to reach 10 GW of total capacity.   The project will both cater to the domestic Australian market, supporting the Australian Government’s net zero goals, while also featuring global export capabilities.  To facilitate distribution, Cape Hardy will be equipped with Australia’s first purpose-built advanced fuels export terminal.   
Amp has been in discussions to develop the Cape Hardy Advanced Fuels precinct, in collaboration with Iron Road Ltd and The Government of South Australia, for the past two years. During that time, Amp has made significant development progress.  The project’s concept, design, and pre-Front End Engineering Design (FEED) phase have been studied and reviewed by two leading global engineering firms, Arup and Technip Technologies, as Amp targets completion of pre-FEED studies for the first 1 GW electrolyser phase over the next 9 months. FEED scoping and contracting is currently underway ahead of awarding the FEED contract in late 2024 or early 2025.
Desalinated water is to be sourced from the recently announced Northern Water Supply (NWS) seawater desalination plant that will be located at Cape Hardy to meet the project’s demand for electrolyser feed water, cooling water, process plant water, and fire water. Amp is co-funding pre-FID expenditures for the NWS project.
Additionally, Amp is working closely with the Barngarla Determination Aboriginal Corporation RNTBC (“BDAC”).  With continued support from the BDAC, Amp is confident the Cape Hardy Advanced Fuels Precinct will have a meaningful economic impact on the region.  Amp currently estimates this will include approximately 4,000 direct and 6,000 indirect jobs for the first gigawatt of electrolyser capacity alone.
“We are seeing growing demand for Advanced Fuels both in Australia and abroad. This includes green ammonia, liquid hydrogen, methanol, and sustainable aviation fuel. The Cape Hardy Advanced Fuels Precinct will allow for large-scale production of these fuels that will be critical to the energy transition and achieving net zero targets. We could not be more excited about the project’s potential impact, and we are grateful for the partnership and continued support from Iron Road Ltd, the South Australian Government and BDAC as we progress full steam ahead on development” said Paul Ezekiel, Amp President and Co-founder.
Minister for Trade and Investment, Joe Szakacs said “The State Government recognises the strategic importance of the Cape Hardy Advanced Fuels Precinct attracting investment into the state for domestic and export opportunities, as there is an increasing flight to quality for hydrogen projects worldwide.”
About AmpAmp Energy is a global energy transition development platform, which delivers renewables, battery storage, Advanced Fuels and green AI data centers at scale, together with proprietary AI-enabled grid flexibility through its Amp X platform. Since its inception 15 years ago, Amp has developed and built or contracted 14 GW of assets globally. Amp is backed by major investments from institutional capital partners including global private equity firm the Carlyle Group, who has invested over US$440 million. The company has global operations throughout North America, the UK, Australia, Japan, and Spain.
For more information, please visit amp.energy

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GEEKOM A8 AI PC is now available for €799 and up.

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TAIPEI, May 21, 2024 /PRNewswire/ — The GEEKOM A8, a highly anticipated Next-Gen AI mini PC with an AMD HawkPoint Ryzen 8040 processor, is now available.

The A8 employs a metal housing with rounded corners and anodized matte finish, giving it a gorgeous and stylish look. Having a footprint smaller than the palm of a hand, the mini PC will conveniently fit in all types of desktop arrangement and instantly elevate the aesthetics of any workspace.
There are two variants of the GEEKOM A8, users have the option to choose between two processors from the same AMD HawkPoint family: Ryzen 7 8845HS and Ryzen 9 8945HS. Both chips feature 8 Zen 4 CPU cores, 16 threads, 16MB L3 cache, an AMD Radeon 780M integrated GPU as well as a Ryzen AI Engine NPU, but the Ryzen 9 8945HS is designed to offer slightly better performance, thanks to its higher CPU and GPU frequencies.
With a greatly enhanced NPU, the A8 can execute 60% more AI workloads than mini PCs with last-generation Ryzen 7040 chips, allowing users to embrace a new era of AI computing. For average consumers, the A8 will quickly find answers to all questions and turn texts into images and videos. For business users, the A8 will automatically summarize notes, transcribe calls, and take meeting minutes. For professional content creators, the A8 will bring much faster AI-powered photo editing, quicker video output, and speedier multi-tasking, helping bring the most ambitious ideas to life. With the new IceBlast 1.5 cooling technology, the A8 can stay cool and stable even when tasks are loaded.
Besides its powerful performance, the A8 also offers a wide array of ports, including four USB-A (including three USB3.2 Gen2), two HDMI2.0, a 40Gbps USB4, a multi-function Type-C, an SDXC slot, and a 3.5mm audio jack. Users can choose to connect the mini PC to an eGPU, ultra high-speed portable storage, or up to four 4K displays.
The A8 is now available on GEEKOM’s independent website. The 8845HS and 8945HS variants are priced at €799 and €949 respectively. Regardless of the CPU option, each unit is preinstalled with 32GB dual-channel SO-DIMM DDR5-5600 RAM, a fast 1TB M.2 2280 PCIe4.0*4 SSD, a wireless card that supports WiFi 7 and Bluetooth 5.4, and a licensed copy of Windows 11 operating system.
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